TW to settle AOL-related shareholder suits
Time Warner Inc. reached agreements this month to pay $405 million to settle lawsuits brought by shareholders over past accounting problems at the company's AOL unit, the world's largest media conglomerate said in a regulatory filing Friday. The deals were with shareholders who opted out of an earlier settlement. TW said other lawsuits remain, with plaintiffs claiming about $3 billion in damages with interest. The company has taken legal reserves in anticipation of such settlements.